Download FREE Sample Here

Download the full file instantly at http://testbankinstant.com
Chapter 01
Overview of Marketing
True / False Questions
1. Google, Facebook and YouTube are all innovative, and each company has succeeded
because it provided value to its customers.
True False
2. Marketing is an activity that only large firms with specialized departments can use.
True False
3. Good marketing is not a random activity.
True False
4. Understanding a market's needs and wants is fundamental to marketing success.
True False
5. Marketers would prefer to sell their products and services to everyone but it is not practical to
do so.
True False
6. The four Ps include persistence, promotion, presence, and performance.
True False
7. Thoughts, opinions, philosophies and intellectual concepts fit the concepts of neither goods
nor services, and they cannot really be marketed.
True False
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
8. The goals of marketing promotion are youth, style, and sex appeal.
True False
9. The group of firms that makes and delivers a given set of goods and services is known as a
supply chain.
True False
10. Value is what you get for what you give.
True False
11. In co-creation, the customer is involved as a collaborator in the creation of a product or
service, which provides additional value to the customer.
True False
12. Value-based marketing supports developing long-term customer loyalty.
True False
13. During the past decade or so, marketers have begun to realize that they need to think about
their customer orientation in terms of transactions rather than relationships.
True False
14. In value-based marketing firms, the economics department is responsible for coordinating
all aspects of supply and demand.
True False
15. Marketers in a number of major food manufacturers have acted to restrict advertising to
children in response to public concerns about obesity in children and the impact of advertising
fast food.
True False
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
Multiple Choice Questions
16. Which of the following activities does NOT involve marketing?
A. purchasing gasoline
B. attending marketing class
C. downloading music
D. deciding how many hours to sleep
E. all of the above
17. Marketing involves all of the following EXCEPT:
A. exchange
B. satisfying customer needs and wants
C. creating value
D. efforts by individuals and organizations
E. production scheduling
18. Whenever Jami calls on his building contractor customers he asks if they are having any
problems. In doing so, Jami is addressing which of the following core aspects of marketing?
A. satisfying customer needs and wants.
B. exchange function of marketing.
C. product, place, promotion, and price decisions.
D. decisions regarding in which setting marketing takes place.
E. creating value objective of marketing.
19. Julia is considering a career in marketing. She is concerned about the image of marketers as
fast-talking, high-pressure people. When reading about the core aspects of marketing, Julia is
relieved to see that in marketing,
A. all parties to an exchange should be satisfied.
B. promotion is foremost, followed by pricing decisions.
C. decisions are made regarding how a product is designed.
D. customers are not needed until the product is ready for sale.
E. distribution is controlled by customers.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
20. Xavier is analyzing potential market segments. He knows he has to carefully seek potential
customers who have both an interest in his products and:
A. the intellectual capability to comprehend his promotional message.
B. the ability to buy them.
C. knowledge of competing offers.
D. the ability to negotiate discounts.
E. are removed from traditional market exchange alternatives.
21. Of primary interest to marketers are ___________________ buyers.
A. centrally controlled
B. unqualified and underserved
C. qualified potential
D. past unsatisfied
E. future potential
22. When referring to "exchange," marketers are focusing on:
A. location where products and services are traded.
B. price charged adjusted for currency exchange rates.
C. creating value.
D. promotional offers designed to stimulate barter.
E. the trading of things of value.
23. Whenever Valerie has a new massage therapy customer, she asks the person if they want to
be on her e-mail distribution list. In the process, in addition to exchanging her massage therapy
service for payment, Valerie is gathering:
A. information.
B. promotional effective analysis.
C. pricing data.
D. value.
E. all of the above
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
24. Smart marketers recognize that when exchanges take place with their customers, whether in
person or electronically, it is an opportunity to:
A. demonstrate the limitations of competitors' offerings.
B. gather information.
C. offer discounts.
D. investigate alternative distribution system stimuli.
E. design new product offerings for other market segments.
25. Which of the following is a core aspect of marketing?
A. satisfying the firm's wants and needs.
B. creating universal coverage
C. instilling self-sufficiency
D. making product, place, promotion, and price decisions
E. all of the above
26. Which of the following questions must be addressed when making marketing decisions?
A. How is the product to be designed?
B. How much should the product cost?
C. Where should the product be promoted?
D. How will the product be delivered to the customer?
E. All of the above
27. Fiona has developed a new software application that automatically reconfigures accounting
information based on the standards used in each country. Her product is superior to anything
that exists on the market. Which of the following questions will she have to address when
making marketing decisions?
A. How the software will be promoted?
B. What price to charge?
C. What distribution channels to use?
D. Where to introduce the software?
E. All of the above
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
28. Marketing traditionally has been divided into a set of four interrelated decisions known as
the marketing mix, or four Ps, including all of the following EXCEPT:
A. product
B. place
C. performance
D. promotion
E. price
29. The four Ps comprise the marketing mix, which is the ______________ set of activities that
the firm uses to respond to the wants of its target markets.
A. reversible
B. external
C. organic
D. controllable
E. global
30. The fundamental goal of marketers when creating goods, services, or combinations of both,
is to:
A. differentiate themselves from the competition.
B. overwhelm consumers.
C. provide what is needed as defined by government regulations.
D. stimulate short-term sales.
E. create value.
31. Marketing includes offering:
A. products
B. services
C. ideas
D. combinations of products, services, and ideas
E. none of the above.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
32. Brian is struggling with the choice of publishing his new book, "How to cook Polish
Barbeque" as an e-book or a paperback. Brian is addressing which core marketing aspect?
A. satisfying customer needs and wants.
B. exchange function of marketing.
C. making product decisions.
D. decisions regarding in which setting marketing takes place.
E. making pricing decisions.
33. In most supermarkets there are numerous almost identical products, some with brand names
and others with store or generic labels. In terms of creating product value, the basic difference
between branded and generic products is:
A. brand image.
B. intrinsic ingredients.
C. price.
D. all of the above.
E. none of the above.
34. The basic difference between a good and a service is a good:
A. provides intangible benefits.
B. can be physically touched.
C. always less expensive than a corresponding service.
D. generates greater interest among consumers.
E. depreciates more rapidly in the minds of consumers.
35. UPS requires their delivery people to wear uniforms and washes their trucks nightly so they
are always clean. Part of the reason this service company created these policies is because they
recognize:
A. consumers want friendly delivery people.
B. their competitors did not do this.
C. consumers' image of the benefits they receive are tied to their image of the producer.
D. the goods UPS sells are easily replicated.
E. all of the above
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
36. Four Winds Art Gallery recently began offering appraisals of customers' art collections.
Four Winds is:
A. expanding from offering just service to also offering goods.
B. implementing a market segmentation strategy.
C. capturing value through multiple pricing strategies.
D. expanding from offering just goods to also offering services.
E. increasing customer value through inflated appraisal evaluations.
37. The owner of The House Doctor, a home repair business, often helped potential customers
evaluate alternative ways to fix problems. Since he got paid for materials and labor when doing
repairs, the House Doctor:
A. was only offering a product.
B. was offering only a service.
C. provided both a service and a product.
D. was primarily a marketer of ideas.
E. focused on supply chain management.
38. Ellen's firm has been installing home entertainment systems for ten years. In a new
approach, she has started selling a line of imported speakers that offer superior value to her
customers when they upgrade their systems. Ellen should focus her marketing efforts on:
A. the service she provides to customers.
B. the new merchandise.
C. a combination of the services and the merchandise.
D. the speakers until they become profitable than return her focus to the core of her business the installation.
E. None of the above. She should focus on improving the installation.
39. The price of a product is:
A. expressed in money terms.
B. includes the time involved in the purchase decision.
C. includes the effort and energy involved.
D. is everything the buyer gives up.
E. all of the above
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
40. Marketers must determine the price of a product carefully on the basis of the potential
buyer's belief about:
A. its value.
B. the environment.
C. advertising.
D. monetary policy.
E. external stimuli.
41. Some discount stores put products in large bins and let consumers hunt and find bargains.
Part of the price these consumers pay is:
A. cost of providing the bins.
B. the value of their time and energy.
C. excitement they experience in finding an item they desire.
D. the savings to the store of not having to display the products neatly on shelves.
E. all of the above
42. Henriette offers financial counseling and management on a fee-only basis. She has found
that different customers are willing to pay different rates for her service. Henriette recognizes
that her pricing decisions primarily depend on:
A. regulations determining the fees financial advisors can charge.
B. changes in technology allowing consumers to manage their own affairs.
C. how much customers are willing to pay and are satisfied with their purchase.
D. changes in the economy creating recessions or periods of expansion.
E. how much effort she has to expend in assisting her clients.
43. Delivering the value proposition is also known as:
A. endless chain marketing.
B. situational distribution efficiency.
C. wholesaling.
D. marketing myopia.
E. supply chain management.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
44. Marketing efforts designed to get the product or service to the right customer, when that
customer wants it, are called:
A. supply chain management.
B. situational distribution efficiency.
C. wholesaling.
D. marketing myopia.
E. endless chain marketing.
45. Yesenia, the new university course scheduling manager, is struggling with adjustments to
the fall schedule. She is trying to determine how to offer what the students need at the times
students need them. Yesenia is struggling with the marketing function of:
A. communicating the value proposition.
B. supply chain management.
C. creating value.
D. capturing value.
E. tormenting students.
46. Supply chain management involves integrating the efforts of:
A. suppliers.
B. manufacturers.
C. warehouses.
D. stores.
E. All of the above.
47. The marketing goal of getting the "right quantities to the right locations, at the right time"
is:
A. communicating the value proposition.
B. supply chain management.
C. creating value.
D. capturing value.
E. price and performance management.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
48. Marketers involved in supply chain management are constantly balancing the:
A. goal of promotional effectiveness against ethical advertising standards.
B. problem of price maximization against cost efficiency.
C. goal of minimizing costs against satisfying the service levels customers expect.
D. desire to achieve against the need for a stabile source of supply.
E. goal of efficiency against the goal of profit minimization.
49. The importance of supply chain management is often overlooked because:
A. it is considered boring.
B. pricing strategy is more fun.
C. companies do not want organization members to understand the problems involved.
D. many of the activities take place behind the scenes.
E. all of the above.
50. When considering career choices in marketing, many students overlook supply chain
management because:
A. it is considered too quantitative.
B. promotion strategy is more fun.
C. companies do not want organization members to understand the problems involved.
D. it only takes place in large, urban areas.
E. many of the activities take place behind the scenes.
51. UPS, FedEx, and DHL all support other companies' _______________ marketing goal.
A. supply chain management
B. pricing
C. product value
D. promotional effectiveness
E. none of the above
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
52. ________________ is communication by a marketer that informs, persuades, and reminds
potential customers.
A. Pricing
B. Promotion
C. Placement
D. Product value creation
E. Pork barreling
53. The goal of promotion is to _______________ potential buyers about a product or service.
A. inform
B. persuade
C. remind
D. all of the above
E. none of the above
54. Every Christmas season, Anheuser-Busch runs television ads featuring Clydesdale horses
in a winter scene. These ads focus on the promotional goal of __________ consumers about the
company's brand.
A. informing
B. persuading
C. reminding
D. all of the above
E. none of the above
55. Local television advertising often includes ads for automobiles dealerships using actors
trying to create a sense of excitement and urgency among consumers. These ads are attempting
to achieve the promotional goal of _____________ potential buyers.
A. informing
B. persuading
C. reminding
D. all of the above
E. none of the above
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
56. Effective promotion enhances a product or service's:
A. supply chain management system.
B. wholesaling capabilities.
C. perceived value.
D. cost.
E. all of the above
57. By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to:
A. influence social norms regarding sexuality.
B. increase price resistance.
C. stimulate supply chain management cooperation.
D. increase the perceived value of their products.
E. none of the above.
58. The traditional marketing channel through which consumers find and purchase goods and
services is known as:
A. B2B
B. C2C
C. D2C
D. C2D
E. B2C
59. Retailers accumulate merchandise from producers in large amounts and sell to consumers in
smaller amounts. Retailers function as:
A. market intermediaries.
B. monopolists.
C. regulators of consumer demand.
D. wholesaling specialists.
E. intermediate promoters
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
60. The advent of auction sites like eBay has increased _______________ marketing.
A. B2B
B. C2C
C. D2C
D. C2D
E. B2C
61. As use of the Internet took off, car manufacturers were tempted to sell directly to consumers
but decided to maintain their existing dealer networks. The car manufacturers considered
switching from __________ to ____________ marketing.
A. B2C; B2B
B. B2C; A2Z
C. B2B; B2C
D. B2B; EDF
E. ABC; XYZ
62. Many universities provide physical or electronic bulletin boards to facilitate ride-sharing
and exchange of used books among students. These bulletin boards increase _________
marketing.
A. B2C
B. B2B
C. A2C
D. C2C
E. underground
63. When preparing for and engaging in a job interview, potential employees engage in
marketing most closely associated with _______________ marketing
A. consumer to business
B. business to business
C. consumer to consumer
D. business to consumer
E. all of the above
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
64. Which of the following is NOT true about marketing ideas?
A. Opinions, philosophies, intellectual concepts and even thoughts can be effectively marketed.
B. Marketing ideas does not involve real exchange of value.
C. Ideas can be "purchased" by convincing someone to change his or her behavior.
D. Marketing can be directed toward primary and secondary targets to increase knowledge and
change behavior.
E. Value can be created through changing behaviors.
65. The discussion of Zappos in the Power of Internet Marketing 1.1 demonstrates:
A. how increased promotion on the internet can be used to create value.
B. centralizing fulfillment operations is superior for a marketer because of the enhanced
inventory control.
C. how the third P - Place - is becoming irrelevant is the emerging world of internet commerce.
D. how consumers are not particularly concerned about delivery and availability as long as the
product is stylish.
E. how supply chain management is a critical component of marketing that creates value for
customers.
66. Valerie's firm researched what employees are seeking, then communicated a brand image
for the firm and worked to ensure the employee experiences matched what was advertised. The
firm is using:
A. human resources advertising.
B. employee relations research
C. human potential imaging
D. employment marketing
E. human asset branding.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
67. Joseph is about to graduate near the top of his class and has been looking at some
forward-thinking firms. He had expected the job market to be tight, but found that some firms
were using employment marketing to attract the candidates they want and need. He noticed
these firms used all of the following approaches EXCEPT:
A. using marketing research to understand what future employees want from a position.
B. using advertising agencies to focus creatively on the targeted job seekers.
C. developing of an employee brand image.
D. focusing on the GPA and courses students took in marketing and human resources
management.
E. working to ensure the employment experiences match the candidates' expectations.
68. The "Got Milk" advertising campaign was designed to help market a(n):
A. individual.
B. firm.
C. industry.
D. organization.
E. all of the above.
69. The evolution of marketing progressed along the continuum:
A. sales, marketing, value-based marketing, production
B. marketing, value-based marketing, production, sales
C. value-based marketing, production, sales, marketing
D. production, sales, marketing, value-based marketing
E. sales, value-based marketing, marketing, production
70. The idea that a good product will sell itself is associated with the _______________ era of
marketing.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
71. Henry Ford's statement, "Customers can have any color they want so long as it's black,"
typified the ____________ era of marketing.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
72. Melanie works for a small computer software company. Her boss is constantly improving
their products but neglecting customers, billing, and promoting the company. Her boss is
probably stuck in the _____________ era of marketing.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
73. During the ______________ era, firms had excess capacity and used personal selling and
advertising to generate customers.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
74. The prevailing marketing strategy of the ______________ era was to find customers for
inventories that went unsold.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
75. Near the end of the model year, Move-Them-Out automobile dealership had an unusually
high inventory level. The manager increased her advertising spending and gave extra incentives
to its salespeople. Move-Them-Out operates as if it were in the __________ era.
A. production
B. sales
C. marketing-oriented
D. value-based
E. all of the above
76. Many U.S. companies first discovered marketing during the _________ era.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
77. During the marketing era:
A. a good product would sell itself.
B. the customer was king.
C. marketing was more important than production.
D. advertising and personal selling will make the sale.
E. firms focused on value.
78. During the ____________ era manufacturers and retailers began to focus on what
consumers wanted and needed before they designed, made, or attempted to sell their products.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
79. During the ____________ era manufacturers and retailers recognized they needed to give
their customers greater value than their competitors did.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
80. Value is:
A. the lowest cost option.
B. represented by brand names.
C. the highest priced alternative.
D. everyday low prices.
E. what you get for what you give.
81. Trey sells consumer electronics. He knows his customers weigh the costs versus the
benefits associated with the different options available. He decides which products to offer and
what prices to charge based on the way his customers think. Trey operates in the _________
marketing era.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
82. Serena studies her customer profiles, market research data, complaints, and other
information attempting to better understand what her customers want. Serena operates in the
__________ era of marketing.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
83. In delivering value, marketing firms attempt to find the most desirable balance between:
A. the need for value and the perception of value.
B. explicit versus implicit value.
C. providing benefits to customers and keeping costs down.
D. the desire to satisfy customers and the need to keep customers from running the company.
E. the need for product improvement and the need for advertising.
84. Yolanda is the new restaurant manager in a major hotel. When considering changes in the
restaurant to improve benefits to customers, Yolanda will likely attempt to either provide the
same quality at a lower cost or:
A. improve products and services at the same cost.
B. increase prices to increase revenue.
C. offset higher hotel rates with lower restaurant prices.
D. reduce customer benefit expectations through reduced service.
E. any of the above.
85. Some customers will seek to get a lot of merchandise for a small amount of money. In
marketing, this is known as:
A. the marketing paradox.
B. the outer limits of pricing
C. customers seeking value.
D. profit pricing
E. value variation
86. Christie has just started with a travel agency, and she has been offering clients and
prospective clients a range of pre-packaged tours. She is concerned, because she is not making
the kinds of commissions she'd like. She has seen that her colleague Peter, who has been with
the agency for quite a while, is having a great deal of success by working with the clients, taking
their suggestions and building unique tour packages. Peter's approach is based on:
A. extraordinary good luck
B. premium pricing
C. his seniority at the firm
D. special incentives from tour operators
E. value co-creation
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
87. Adding Value 1.1: My M&Ms discusses a market approach similar to that used by
companies like Nike that allows customers to custom-design the products. Marketers offering
services also bring customers into the design process to create custom approaches. This is
known as:
A. vanity product development
B. value customization
C. premium design
D. value co-creation
E. extreme customer service
88. Value-based marketing depends on:
A. knowing what the customer perceives as the key benefits of a product or service.
B. balancing customer benefits with reasonable costs.
C. knowing what benefits customers would do without to keep prices down.
D. looking at quality from the customer's perspective.
E. All of the above.
89. Ann Marie has been working on pricing for the hotel where she works. She knows business
travelers stay at the hotel frequently because it has ready access to the airport, and others stay
there because it is convenient to the shopping and entertainment districts. She is unsure whether
she should raise rates for either business travelers or the leisure travelers. As she works to find
the best pricing mix, she'll have to look at the ways these travelers will make in terms of price.
In doing so, Ann Marie will be using:
A. value-based marketing.
B. convenience pricing.
C. destination planning.
D. All of the above.
E. None of the above.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
90. Janine has a new clothing design she would like to market. She knows creating and
delivering value to consumers is difficult and has seen designers' successful products have been
quickly replicated. For Janine, the major problem she faces in creating and delivering value is
most likely to be:
A. consumer perceptions change quickly.
B. competitors constantly enter markets.
C. global pressures continually reshape market opportunities.
D. marketers' understanding of consumers is complete.
E. all of the above
91. In 2006, the film Supersize Me provided a critical view of McDonalds Company and their
products. The company was caught off guard and had to quickly develop a response. In terms of
value-based marketing, McDonalds faced the potential problem of:
A. consumer perceptions change quickly.
B. competitors constantly enter markets.
C. global pressures continually reshape market opportunities.
D. marketers understanding of consumers is complete.
E. all of the above
92. Fiona, the new manager of Common Ground Coffee House, is assessing vendor
performance, customer complaints, advertising effectiveness, and all aspects of her business.
Fiona recognizes value-based marketing:
A. is based primarily on consumer perceptions.
B. offers insights into competitor's actions.
C. should be at the core of every firm's functions.
D. depends on constantly changing global pressures.
E. forces consumers to constantly change their perceptions.
93. To become a more value driven organization, Pokrah University is holding coffee-hour
discussions with its students and surveying its graduates regarding students' educational needs
and desires. Pokrah University is becoming more value driven through:
A. sharing information across their organization.
B. balancing their customers' benefits and costs.
C. evaluating strategic competitive partnerships.
D. building relationships with customers.
E. none of the above.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
94. As owner of a retail franchise food store, Mary Gray coordinates her purchasing with
specials advertised nationally throughout the franchise system. One Monday she was surprised
to find customers asking for specials that she did not know about in advance. The franchise
company failed the value driven principle of:
A. sharing information across the organization.
B. balancing customers' benefits and costs.
C. evaluating strategic competitive partnerships.
D. building relationships with customers.
E. none of the above.
95. To become a better value driven organization, the manager of BestBulk clothing store
directed her staff to share information about:
A. customers
B. competitors
C. complaints
D. inventories
E. all of the above
96. In the past, manufacturer's representatives did not have up-to-minute data about the
products they were selling. Today, manufacturer's representatives are often provided Intranet
access to inventory data for the companies they represent. Intranet systems allow companies to
become more value driven through:
A. sharing information across the organization.
B. balancing customers' benefits and costs.
C. evaluating strategic competitive partnerships.
D. building relationships with government regulators of marketing institutions.
E. none of the above.
97. Value-driven marketers are constantly measuring the ___________ that customers perceive
against the cost of their offering.
A. information
B. benefits
C. relationships
D. perceptions
E. misconceptions
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
98. One of the benefits of value driven marketing is attention to customer needs and wants will
likely result in:
A. recessions
B. increased competition
C. long-term loyalties.
D. stronger relational dialogues among competing firms in the marketplace.
E. all of the above
99. Even though they operate from out of the way airports and offer no food service, new
discount airlines like Ryanair and EasyJet have been successful. Consumers obviously
consider:
A. the code-sharing of information by these airlines as a strategic opportunity to influence
scheduling.
B. the long-term relationships established by these airlines as a critical benefit.
C. the value of higher-priced airlines exceeds the value provided by discounters.
D. the benefit of lower prices greater than the inconvenience of fewer services and easy access.
E. little when making airline choices.
100. Even though they operate from out of the way airports and offer no food service, new
discount airlines like Ryanair and EasyJet have been successful. As would be expected,
successful value driven airline marketing strategies resulted in:
A. conventional airlines creating no frill/low cost competitors.
B. pressure for increased Federal Aviation Administration antitrust regulation.
C. increased demand for rail transportation.
D. full-price advertising by the conventional airlines.
E. increased gasoline prices.
101. To become value driven, firms should:
A. share information across the entire organization about customers and competitors.
B. balance relationships with customers beyond thinking about individual transactions.
C. balance benefits with costs to create value for customers.
D. All of the above.
E. None of the above
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
102. Travelers to other countries often are swamped with offers of transportation,
accommodations, and other goods and services when they arrive at train or airport terminals.
Experienced travelers have learned to be skeptical about these offers, recognizing most of these
marketers are interested in:
A. situational ethical relationships.
B. minimizing traveler's discomfort.
C. offering the best value for the lowest price.
D. transactions rather than relationships.
E. developing long-term business relationships.
103. A buyer's representative in a real estate purchase was asked by her customer "Is this a fair
offer?" She responded. "You are only trying to buy one house. Do you want to offer more
money than you have to?" The buyer's representative recognized that in most situations,
home-buyers are engaged in:
A. relationships.
B. subterfuge.
C. collective bargaining.
D. prestige purchases.
E. transactions.
104. If you are engaged in a buying or selling situation where you do not expect to business
with the other party again, you are engaged in a:
A. transaction
B. value driven opportunity.
C. relationship.
D. simulation.
E. investigation.
105. A relational orientation is based on the philosophy that buyers and sellers develop:
A. a complete understanding of each other's needs.
B. a long-term relationship.
C. a price-value comparison matrix.
D. supply chain synergy
E. a marketing value transaction focus.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
106. Many firms with complex products have missionary salespeople who assist customers
with problems and implementation programs. These salespeople rarely sell products but often
become involved in and knowledgeable about customer's needs and wants. These salespeople
focus on a _______________ orientation with their customers.
A. transactional
B. external
C. relational
D. internal
E. divisional
107. After major hurricanes like Katrina, many ethical home repair and building supply
businesses charged the same price they were charging before the hurricane to needy customers,
even though there was a huge increase in demand for their products and services. These firms
recognize that:
A. they will make more off of government contracts than sales to customers.
B. needy people make the best transactional partners in the long run.
C. natural disasters bring out the best in people.
D. lifetime profitability of relationships matter more than profits from each transaction.
E. life must go on.
108. After hurricanes like Katrina, many small building contractors will flock to the damaged
area charging whatever customers will pay for temporary repairs to roofs and other parts of
damaged homes. These contractors are engaged in a _____________________ marketing
orientation.
A. transactional
B. external
C. relational
D. internal
E. value driven
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
109. Melinda, a marketing executive, is trying to explain customer relationship management
(CRM) to her parents. She explains that CRM is a way of thinking that translates into
___________________ to identify and build long-term relationships with her customers.
A. a set of strategies
B. programs
C. efforts
D. systems
E. all of the above
110. The goal of customer relationship management is to:
A. manage every customer relationship differently.
B. manage every customer relationship to maximum potential profitability.
C. reduce inefficient relationships through customer care.
D. identify and build loyalty among a firm's customers.
E. generate relationships with all of a firm's customers.
111. Firms and organizations use customer relationship management to:
A. to provide their best customers with the products they need.
B. systematically collect information about their customers.
C. to offer special promotions that appeal to their customers.
D. to target their best customers.
E. all of the above.
112. Franco uses a database software system to remind him when his customers should be
ready to re-order his industrial cleaning products. With this reminder system, Franco contacts
his customers when they are most likely to be "in the buying mode." Franco's system is part of:
A. C2C marketing
B. customer relationship management
C. a transactional marketing orientation.
D. supply chain retail simplification system.
E. a value driven global positioning system.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
113. Many catalog companies create special-run issues based on what customers have
purchased in the past. For example, customers who frequently order from the bedding items
receive a larger section of bedding items than customers who order kitchen items. This is an
example of:
A. C2C marketing
B. customer relationship management
C. a transactional marketing orientation.
D. supply chain retail simplification system.
E. B2B relationship management.
114. Marketing was once an afterthought to:
A. accounting.
B. economics.
C. production.
D. finance.
E. marketing was never an afterthought.
115. Many inventors struggle with the question, "I made it; now how do I get rid of it?" They
struggle with the problem of considering marketing as:
A. an afterthought.
B. integral part of a business plan.
C. an accounting entry.
D. a profit center.
E. all of the above.
116. Your roommate, a non-business major, sees you reading your marketing text. He or she
asks, "Why is marketing important?" You respond by saying all of the following EXCEPT:
A. Marketers advise production on how much product to make.
B. Marketers tell the logistics department when to ship products.
C. Marketers engage customers and developing long-term relationships.
D. Marketers identify opportunities to expand.
E. Marketers are the most important profit-center in any organization.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
117. Georgia, the outside sales rep for a major building supply company, reads a report stating
building permits are down dramatically in her sales territory. She knew things were slowing but
now has data confirming her impression. Based on this information, one of the important
functions Georgia provides is:
A. identifying new expansion opportunities.
B. alerting production and purchasing divisions about how much product to produce or order.
C. assisting customers in product recall confirmations.
D. avoiding contact with competing firms in order to maximize C2C value driven marketing.
E. estimating profit per sale after allowances for depreciation and interest expenses.
118. Jenny, the delivery and sales representative for a beer distributor is calling on a retailer and
sees the shelves are almost empty. An unexpected sporting event held nearby resulted in a huge
increase in sales. She calls her company's distribution manager and requests a special delivery
for her customer. Jenny is providing the important marketing function of:
A. advising production on how much product to make.
B. alerting the logistics department when to ship products.
C. engaging customers and developing long-term relationships.
D. identifying opportunities to expand.
E. synthesizing and interpreting sales, accounting, and customer-profile data.
119. After the previous sales representative in his territory infuriated an important customer,
Benjamin visited the customer every couple months, never asking for business but hoping to
re-build trust through listening and expressing concern. Finally, after more than two years, the
customer gave Benjamin an order. Benjamin was providing the important marketing function
of:
A. advising production on how much product to make.
B. alerting the logistics department when to ship products.
C. engaging customers and developing long-term relationships.
D. identifying opportunities to expand.
E. synthesizing and interpreting sales, accounting, and customer-profile data.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
120. Marketing provides the critical function of ________________________ when
companies expand globally.
A. production efficiency
B. understanding customers
C. personnel management
D. economic analysis
E. accounting accuracy
121. When Efram Cosmetics Company considered expansion beyond their home territory,
Wisconsin, they began by reviewing demographic profiles of their customers and profiles of
regions they were considering. Efram Cosmetics was engaged in the important marketing
function of:
A. production efficiency
B. inventory analysis
C. personnel management
D. economic analysis
E. understanding customers
122. While on vacation in Ecuador Leah, marketing manager for an electronics company, can't
help herself and visits the electronics stores in the major malls in Quito. She sees most of her
company's products available but no personal digital assistants (PDAs) being marketed. When
she gets back to work, she mentions this observation to her international sales manager. Leah
was providing the important marketing function of:
A. advising production on how much product to make.
B. alerting the logistics department when to ship products.
C. engaging customers, developing long-term relationships.
D. identifying opportunities to expand.
E. synthesizing and interpreting sales, accounting, and customer-profile data.
123. One of the most important challenges in marketing globally is to:
A. ensure that the product and service does not change from its domestic offerings
B. work carefully with protesters and advocacy groups to target competitors to ensure the c.
firm's name is not associated with these actions.
C. change to meet circumstances but maintain strategy and identity.
D. seek out other home-country firms to buy products and services from so as to ensure product
quality.
E. operate without publicity so as not to attract attention.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
124. Imagine a country where an anti-marketing dictator orders all marketing efforts to be
stopped. Producers are still allowed to produce, and consumers are allowed to consume but no
marketing is allowed. In such a situation:
A. there will be no advertising making it difficult to learn about producer's offerings.
B. producers will likely over or under estimate the needs of consumers.
C. consumers will have difficulty comparing the value of different producer's offerings.
D. producers will have difficulty determining where to ship their products and when.
E. all of the above.
125. At many universities there are separate departments of admissions, advisement,
development, and recruiting while pricing is determined in the administrative chambers. These
universities are missing the important marketing function of:
A. sincerity.
B. serenity.
C. seamlessness.
D. situation supply chain management.
E. simulation.
126. Imagine you are now doing marketing at your university. You will likely be involved in:
A. curriculum design.
B. promotion.
C. pricing.
D. scheduling/distribution
E. all of the above.
127. Greenbelt Construction has been a successful small home-building firm for years. The
owner pays subcontractors slightly more than the going rate, reducing the company's gross
margin. Greenbelt rarely changes subcontractors, has relatively few complaints from buyers,
and quick responses from subcontractors when they do have problems. Greenbelt is engaged
in:
A. traditional transactional orientation.
B. C2C value driven marketing.
C. effective supply chain management.
D. marketing mix maximization.
E. all of the above.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
128. Tanya has created a distinctive line of jams, fruit butters and preserves using local,
organically grown fruits. She sells these to specialty stores, whose upscale customers appreciate
the products and can afford the premium price needed to cover the costs. Tanya is concerned
about creating value across the entire supply chain which means:
A. she is concerned that her suppliers provide her with the high-quality ingredients she needs at
a price she can afford.
B. she is concerned that the specialty stores will be able to pay the premium price she needs to
charge, but at a price the retailers can afford with their customers.
C. she would like to ensure that suppliers and her customers create effective relationships to
support the effective marketing of the product to the ultimate customer.
D. she wants to ensure that here ingredients are organic and grown by local firms.
E. All of the above.
129. Which of the following is not true about marketing?
A. The growth of the internet means that marketing will diminish in importance and impact as
customers interact directly with the firms.
B. Marketing provides customers with choices.
C. Marketing adds value to the products and services you use and buy.
D. Marketing makes like easier.
E. Marketing establishes a price that is affordable to the customers while covering the costs of
the features and benefits and providing a reasonable profit for the company.
130. Beth is very creative, who has been able to put herself through college writing and
performing songs. Steven is a wizard with statistics, though he isn't sure what to do with his
talent. Peter is fanatic about project management and has taken a leadership role in every group
project in school. Which of these graduating seniors could consider a career in marketing?
A. Beth only.
B. Beth and Steven.
C. Beth and Peter.
D. Steven and Peter.
E. Beth, Steven and Peter.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
131. Marketing enriches society by:
A. solely focusing on maximizing firm profits.
B. encouraging employees to participant and invest in socially responsible activities and
charities.
C. recognizing that the firm can do very little by itself, and so it should stay focused on - and
develop - its own core competencies and let municipal, state and federal governments sort out
the complex, societal issues.
D. All of the above.
E. None of the above.
132. UPS provides many services beyond package delivery including insurance, supply chain
management, e-commerce, and financing. In the process UPS is building:
A. value chain efficiency.
B. transactional support.
C. exchange efficiency.
D. strategic alliances.
E. customer idea management (CIM)
133. WalMart is often used as an example of a store that consumers love to hate. When a new
WalMart opens in an area it often results in the decline of small, local businesses. Local groups
often protest but, before long, find themselves shopping at WalMart because WalMart:
A. offers better quality products.
B. benefits consumers through low prices and large assortment.
C. benefits local communities through social welfare programs.
D. makes life easier for the remaining businesses.
E. promotes union solidarity.
134. Ben & Jerry's, the Vermont-based ice cream producer, is well-known for its active social
responsibility. The company's mission makes explicit its approach by including which three
areas?
A. Financial, Ethical and Employment Missions
B. Economic, Philanthropic and Social Missions
C. Global, National and Local Missions
D. Product, Economic and Social Missions
E. Philosophical, Ethical and Political Mission
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
135. A friend of yours comments, "I'm starting my own business. I have a perfect product that
no one else can touch. I'd like to bring you into the company, but I have no use for marketing.
That's just for the mega-corporations." You're not sure you want to work for him, but which of
the following arguments would you NOT use in talking about marketing.
A. Marketing helps new ventures organize, operate and assess risk.
B. Marketers help address unfilled needs, regardless of the size of the firm.
C. Marketing focuses on the product but only as one element. Three other areas are Product,
Price and Place.
D. No one is better than marketers at communicating the value of the product to potential
customers.
E. Marketing will be essential in a year or two when the product takes off, and you'll talk again
later.
136. Many entrepreneurs are successful through marketing efforts designed to:
A. mimic existing products on the market.
B. satisfy unfilled needs.
C. raise social consciousness.
D. gain monopoly power.
E. all of the above.
Essay Questions
137. What has marketing contributed to the success of Google, Facebook and YouTube?
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
138. Deonna has been asked to write a marketing plan for a new restaurant. What questions will
Deonna likely address in her marketing plan? Be specific, this is a restaurant.
139. Jean-Pierre is a wine distributor in the United States representing primarily European
vintners. He knows his potential market is all wine drinkers but only has limited resources to
market his products. Using the ideas presented in an Overview of Marketing, what should
Jean-Pierre do as a first step when developing his marketing plan?
140. The text states, "Good marketing is not a random activity." Create an example to respond
to this statement.
141. Your friend is writing a "how to" book and asks you for marketing advice. You start by
exploring the 4Ps. What questions will you ask? Be specific; your friend is creating a book.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
142. The manager of a restaurant supply company determined prices by adding a standard
markup to her costs. Based on an Overview of Marketing, what might the manager be missing?
143. As the customer service manager for a heating and air conditioning firm, you are
constantly bombarded with complaints about service people not showing up, not having the
parts needed to make repairs, and unable to quickly get the materials needed to fix things. You
decide to bring in a marketing consultant to assist you with these problems. What area of
marketing specialization would you look for in a marketing consultant and what
recommendations would you expect to receive? Be specific; this is a heating and air
conditioning firm.
144. As your first assignment in an advertising agency, your manager asks you to come up with
the language for three billboards promoting the university you attended. The manager wants
one ad for each of the three types of promotion objectives. Create an example of one sentence
billboard advertising language for each objective.
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
145. Some firms practice employment marketing to attract the "best and brightest" employees.
If you were to be recruited by a firm practicing employment marketing, what would that firm do
differently from a firm that did not? How would you react?
146. Over the four marketing eras, how did the emphasis on the 4 Ps change? List the four eras
and describe which of the 4 Ps were emphasized during that era.
147. How does value co-creation provide additional value to customers?
148. Imagine a country where an anti-marketing dictator orders all marketing efforts to be
stopped. Producers are still allowed to produce, and consumers are allowed to consume but no
marketing is allowed. From a marketing perspective, what would likely happen?
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
149. Imagine your university creates a position of vice president for marketing and promotes
your professor to the position. What activities will the new vice president of marketing likely
want to be involved in? Be specific; this is a university.
150. Edward, a recently graduated marketing major, is being recruited by a mid-sized
manufacturing firm located in the Midwest. He was disturbed by comments made by the
recruiter that the firm has no intention of expanding its international marketing beyond the sales
that come in through the website. The recruiter said, "Marketing doesn't really have a role since
we don't advertise overseas." What are the things Edward feels the firm might be overlooking,
and would you advise him to take the job or not?
151. Ethical and Social Dilemma 1.1 discusses marketing fast food to children. What role does
marketing have in enriching society? Why should marketers need to balance the viewpoints of
different stakeholders?
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
152. How can marketing be effectively used by entrepreneurs?
153. Your college roommate sees you reading the marketing textbook and says, "Marketing is
just advertising and selling." How do you respond?
154. Imagine you graduate with a marketing degree and are hired into the marketing
department of a large consumer products company. You are initially given a two-week training
program, an overview of what the marketing department does. What will your training program
cover?
155. How could you use the ideas in Chapter One to market yourself to potential employers
after you graduate?
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
156. What are the four Ps of marketing?
157. What is the fundamental purpose of marketing?
158. "Everything has a price, though it doesn't always have to be monetary." What else is
included in a price?
159. How should marketers determine prices?
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
160. If you were hired as a supply chain manager, who would you interact with?
161. When the U.S. Army advertises, "Be All You Can Be, Join the Army," which advertising
objective are they pursuing primarily?
162. During the period 1920-1950, what changes in the United States contributed to the shift
from production-orientation to sales orientation?
163. When assessing customer value, what must a marketer always remember?
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
164. Basically, there are two ways to improve value. What are they?
165. Why do marketers have to constantly re-evaluate their value propositions?
166. Which type of orientation would you expect among ethically-challenged marketers; a
relational or transactional orientation?
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
Chapter 01 Overview of Marketing Answer Key
True / False Questions
1. (p. 2-3) Google, Facebook and YouTube are all innovative, and each company has succeeded
because it provided value to its customers.
TRUE
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: easy
Topic: What is Marketing
2. (p. 3-4) Marketing is an activity that only large firms with specialized departments can use.
FALSE
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: easy
Topic: What is Marketing
3. (p. 4) Good marketing is not a random activity.
TRUE
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: easy
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
4. (p. 4) Understanding a market's needs and wants is fundamental to marketing success.
FALSE
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
5. (p. 5) Marketers would prefer to sell their products and services to everyone but it is not
practical to do so.
TRUE
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: easy
Topic: What is Marketing
6. (p. 6) The four Ps include persistence, promotion, presence, and performance.
FALSE
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
7. (p. 7) Thoughts, opinions, philosophies and intellectual concepts fit the concepts of neither
goods nor services, and they cannot really be marketed.
FALSE
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: easy
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
8. (p. 9) The goals of marketing promotion are youth, style, and sex appeal.
FALSE
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: easy
Topic: What is Marketing
9. (p. 9) The group of firms that makes and delivers a given set of goods and services is known as
a supply chain.
TRUE
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 3
Level: easy
Topic: Value-based Marketing
10. (p. 13) Value is what you get for what you give.
TRUE
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 2
Level: easy
Topic: What is Marketing
11. (p. 14) In co-creation, the customer is involved as a collaborator in the creation of a product or
service, which provides additional value to the customer.
TRUE
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
12. (p. 18) Value-based marketing supports developing long-term customer loyalty.
TRUE
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
13. (p. 18) During the past decade or so, marketers have begun to realize that they need to think
about their customer orientation in terms of transactions rather than relationships.
FALSE
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: moderate
Topic: What is Marketing
14. (p. 20) In value-based marketing firms, the economics department is responsible for
coordinating all aspects of supply and demand.
FALSE
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 3
Level: moderate
Topic: Value-based Marketing
15. (p. 24) Marketers in a number of major food manufacturers have acted to restrict advertising
to children in response to public concerns about obesity in children and the impact of
advertising fast food.
TRUE
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 3
Level: moderate
Topic: Value-based Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
Multiple Choice Questions
16. (p. 3-4) Which of the following activities does NOT involve marketing?
A. purchasing gasoline
B. attending marketing class
C. downloading music
D. deciding how many hours to sleep
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 1
Level: moderate
Topic: What is Marketing
17. (p. 4-12) Marketing involves all of the following EXCEPT:
A. exchange
B. satisfying customer needs and wants
C. creating value
D. efforts by individuals and organizations
E. production scheduling
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
18. (p. 4) Whenever Jami calls on his building contractor customers he asks if they are having any
problems. In doing so, Jami is addressing which of the following core aspects of marketing?
A. satisfying customer needs and wants.
B. exchange function of marketing.
C. product, place, promotion, and price decisions.
D. decisions regarding in which setting marketing takes place.
E. creating value objective of marketing.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
19. (p. 5) Julia is considering a career in marketing. She is concerned about the image of
marketers as fast-talking, high-pressure people. When reading about the core aspects of
marketing, Julia is relieved to see that in marketing,
A. all parties to an exchange should be satisfied.
B. promotion is foremost, followed by pricing decisions.
C. decisions are made regarding how a product is designed.
D. customers are not needed until the product is ready for sale.
E. distribution is controlled by customers.
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 1
Level: hard
Topic: What is Marketing
20. (p. 5) Xavier is analyzing potential market segments. He knows he has to carefully seek
potential customers who have both an interest in his products and:
A. the intellectual capability to comprehend his promotional message.
B. the ability to buy them.
C. knowledge of competing offers.
D. the ability to negotiate discounts.
E. are removed from traditional market exchange alternatives.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: moderate
Topic: What is Marketing
21. (p. 5) Of primary interest to marketers are ___________________ buyers.
A. centrally controlled
B. unqualified and underserved
C. qualified potential
D. past unsatisfied
E. future potential
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
22. (p. 5) When referring to "exchange," marketers are focusing on:
A. location where products and services are traded.
B. price charged adjusted for currency exchange rates.
C. creating value.
D. promotional offers designed to stimulate barter.
E. the trading of things of value.
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
23. (p. 5) Whenever Valerie has a new massage therapy customer, she asks the person if they
want to be on her e-mail distribution list. In the process, in addition to exchanging her massage
therapy service for payment, Valerie is gathering:
A. information.
B. promotional effective analysis.
C. pricing data.
D. value.
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: hard
Topic: What is Marketing
24. (p. 5) Smart marketers recognize that when exchanges take place with their customers,
whether in person or electronically, it is an opportunity to:
A. demonstrate the limitations of competitors' offerings.
B. gather information.
C. offer discounts.
D. investigate alternative distribution system stimuli.
E. design new product offerings for other market segments.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
25. (p. 6) Which of the following is a core aspect of marketing?
A. satisfying the firm's wants and needs.
B. creating universal coverage
C. instilling self-sufficiency
D. making product, place, promotion, and price decisions
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
26. (p. 6) Which of the following questions must be addressed when making marketing
decisions?
A. How is the product to be designed?
B. How much should the product cost?
C. Where should the product be promoted?
D. How will the product be delivered to the customer?
E. All of the above
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: easy
Topic: What is Marketing
27. (p. 6) Fiona has developed a new software application that automatically reconfigures
accounting information based on the standards used in each country. Her product is superior to
anything that exists on the market. Which of the following questions will she have to address
when making marketing decisions?
A. How the software will be promoted?
B. What price to charge?
C. What distribution channels to use?
D. Where to introduce the software?
E. All of the above
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
28. (p. 6) Marketing traditionally has been divided into a set of four interrelated decisions known
as the marketing mix, or four Ps, including all of the following EXCEPT:
A. product
B. place
C. performance
D. promotion
E. price
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
29. (p. 6) The four Ps comprise the marketing mix, which is the ______________ set of activities
that the firm uses to respond to the wants of its target markets.
A. reversible
B. external
C. organic
D. controllable
E. global
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
30. (p. 6) The fundamental goal of marketers when creating goods, services, or combinations of
both, is to:
A. differentiate themselves from the competition.
B. overwhelm consumers.
C. provide what is needed as defined by government regulations.
D. stimulate short-term sales.
E. create value.
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
31. (p. 6) Marketing includes offering:
A. products
B. services
C. ideas
D. combinations of products, services, and ideas
E. none of the above.
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
32. (p. 7) Brian is struggling with the choice of publishing his new book, "How to cook Polish
Barbeque" as an e-book or a paperback. Brian is addressing which core marketing aspect?
A. satisfying customer needs and wants.
B. exchange function of marketing.
C. making product decisions.
D. decisions regarding in which setting marketing takes place.
E. making pricing decisions.
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 1
Level: hard
Topic: What is Marketing
33. (p. 7) In most supermarkets there are numerous almost identical products, some with brand
names and others with store or generic labels. In terms of creating product value, the basic
difference between branded and generic products is:
A. brand image.
B. intrinsic ingredients.
C. price.
D. all of the above.
E. none of the above.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
34. (p. 7) The basic difference between a good and a service is a good:
A. provides intangible benefits.
B. can be physically touched.
C. always less expensive than a corresponding service.
D. generates greater interest among consumers.
E. depreciates more rapidly in the minds of consumers.
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
35. (p. 7) UPS requires their delivery people to wear uniforms and washes their trucks nightly so
they are always clean. Part of the reason this service company created these policies is because
they recognize:
A. consumers want friendly delivery people.
B. their competitors did not do this.
C. consumers' image of the benefits they receive are tied to their image of the producer.
D. the goods UPS sells are easily replicated.
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: moderate
Topic: What is Marketing
36. (p. 7) Four Winds Art Gallery recently began offering appraisals of customers' art collections.
Four Winds is:
A. expanding from offering just service to also offering goods.
B. implementing a market segmentation strategy.
C. capturing value through multiple pricing strategies.
D. expanding from offering just goods to also offering services.
E. increasing customer value through inflated appraisal evaluations.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
37. (p. 7) The owner of The House Doctor, a home repair business, often helped potential
customers evaluate alternative ways to fix problems. Since he got paid for materials and labor
when doing repairs, the House Doctor:
A. was only offering a product.
B. was offering only a service.
C. provided both a service and a product.
D. was primarily a marketer of ideas.
E. focused on supply chain management.
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 1
Level: moderate
Topic: What is Marketing
38. (p. 8) Ellen's firm has been installing home entertainment systems for ten years. In a new
approach, she has started selling a line of imported speakers that offer superior value to her
customers when they upgrade their systems. Ellen should focus her marketing efforts on:
A. the service she provides to customers.
B. the new merchandise.
C. a combination of the services and the merchandise.
D. the speakers until they become profitable than return her focus to the core of her business the installation.
E. None of the above. She should focus on improving the installation.
AACSB: outcome 3
Bloom's Taxonomy: Synthesis
Learning Objective: 1
Level: hard
Topic: What is Marketing
39. (p. 8) The price of a product is:
A. expressed in money terms.
B. includes the time involved in the purchase decision.
C. includes the effort and energy involved.
D. is everything the buyer gives up.
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
40. (p. 8) Marketers must determine the price of a product carefully on the basis of the potential
buyer's belief about:
A. its value.
B. the environment.
C. advertising.
D. monetary policy.
E. external stimuli.
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
41. (p. 8) Some discount stores put products in large bins and let consumers hunt and find
bargains. Part of the price these consumers pay is:
A. cost of providing the bins.
B. the value of their time and energy.
C. excitement they experience in finding an item they desire.
D. the savings to the store of not having to display the products neatly on shelves.
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
42. (p. 8) Henriette offers financial counseling and management on a fee-only basis. She has
found that different customers are willing to pay different rates for her service. Henriette
recognizes that her pricing decisions primarily depend on:
A. regulations determining the fees financial advisors can charge.
B. changes in technology allowing consumers to manage their own affairs.
C. how much customers are willing to pay and are satisfied with their purchase.
D. changes in the economy creating recessions or periods of expansion.
E. how much effort she has to expend in assisting her clients.
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 1
Level: hard
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
43. (p. 9) Delivering the value proposition is also known as:
A. endless chain marketing.
B. situational distribution efficiency.
C. wholesaling.
D. marketing myopia.
E. supply chain management.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
44. (p. 9) Marketing efforts designed to get the product or service to the right customer, when that
customer wants it, are called:
A. supply chain management.
B. situational distribution efficiency.
C. wholesaling.
D. marketing myopia.
E. endless chain marketing.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
45. (p. 9) Yesenia, the new university course scheduling manager, is struggling with adjustments
to the fall schedule. She is trying to determine how to offer what the students need at the times
students need them. Yesenia is struggling with the marketing function of:
A. communicating the value proposition.
B. supply chain management.
C. creating value.
D. capturing value.
E. tormenting students.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
46. (p. 7) Supply chain management involves integrating the efforts of:
A. suppliers.
B. manufacturers.
C. warehouses.
D. stores.
E. All of the above.
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
47. (p. 9) The marketing goal of getting the "right quantities to the right locations, at the right
time" is:
A. communicating the value proposition.
B. supply chain management.
C. creating value.
D. capturing value.
E. price and performance management.
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
48. (p. 9) Marketers involved in supply chain management are constantly balancing the:
A. goal of promotional effectiveness against ethical advertising standards.
B. problem of price maximization against cost efficiency.
C. goal of minimizing costs against satisfying the service levels customers expect.
D. desire to achieve against the need for a stabile source of supply.
E. goal of efficiency against the goal of profit minimization.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
49. (p. 9) The importance of supply chain management is often overlooked because:
A. it is considered boring.
B. pricing strategy is more fun.
C. companies do not want organization members to understand the problems involved.
D. many of the activities take place behind the scenes.
E. all of the above.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
50. (p. 9) When considering career choices in marketing, many students overlook supply chain
management because:
A. it is considered too quantitative.
B. promotion strategy is more fun.
C. companies do not want organization members to understand the problems involved.
D. it only takes place in large, urban areas.
E. many of the activities take place behind the scenes.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
51. (p. 9) UPS, FedEx, and DHL all support other companies' _______________ marketing
goal.
A. supply chain management
B. pricing
C. product value
D. promotional effectiveness
E. none of the above
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
52. (p. 9) ________________ is communication by a marketer that informs, persuades, and
reminds potential customers.
A. Pricing
B. Promotion
C. Placement
D. Product value creation
E. Pork barreling
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
53. (p. 9) The goal of promotion is to _______________ potential buyers about a product or
service.
A. inform
B. persuade
C. remind
D. all of the above
E. none of the above
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
54. (p. 9) Every Christmas season, Anheuser-Busch runs television ads featuring Clydesdale
horses in a winter scene. These ads focus on the promotional goal of __________ consumers
about the company's brand.
A. informing
B. persuading
C. reminding
D. all of the above
E. none of the above
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
55. (p. 9) Local television advertising often includes ads for automobiles dealerships using actors
trying to create a sense of excitement and urgency among consumers. These ads are attempting
to achieve the promotional goal of _____________ potential buyers.
A. informing
B. persuading
C. reminding
D. all of the above
E. none of the above
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: moderate
Topic: What is Marketing
56. (p. 9) Effective promotion enhances a product or service's:
A. supply chain management system.
B. wholesaling capabilities.
C. perceived value.
D. cost.
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
57. (p. 9) By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting
to:
A. influence social norms regarding sexuality.
B. increase price resistance.
C. stimulate supply chain management cooperation.
D. increase the perceived value of their products.
E. none of the above.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
58. (p. 10) The traditional marketing channel through which consumers find and purchase goods
and services is known as:
A. B2B
B. C2C
C. D2C
D. C2D
E. B2C
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
59. (p. 10) Retailers accumulate merchandise from producers in large amounts and sell to
consumers in smaller amounts. Retailers function as:
A. market intermediaries.
B. monopolists.
C. regulators of consumer demand.
D. wholesaling specialists.
E. intermediate promoters
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
60. (p. 10) The advent of auction sites like eBay has increased _______________ marketing.
A. B2B
B. C2C
C. D2C
D. C2D
E. B2C
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: hard
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
61. (p. 10) As use of the Internet took off, car manufacturers were tempted to sell directly to
consumers but decided to maintain their existing dealer networks. The car manufacturers
considered switching from __________ to ____________ marketing.
A. B2C; B2B
B. B2C; A2Z
C. B2B; B2C
D. B2B; EDF
E. ABC; XYZ
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: hard
Topic: What is Marketing
62. (p. 10) Many universities provide physical or electronic bulletin boards to facilitate
ride-sharing and exchange of used books among students. These bulletin boards increase
_________ marketing.
A. B2C
B. B2B
C. A2C
D. C2C
E. underground
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
63. (p. 10) When preparing for and engaging in a job interview, potential employees engage in
marketing most closely associated with _______________ marketing
A. consumer to business
B. business to business
C. consumer to consumer
D. business to consumer
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 1
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
64. (p. 10) Which of the following is NOT true about marketing ideas?
A. Opinions, philosophies, intellectual concepts and even thoughts can be effectively marketed.
B. Marketing ideas does not involve real exchange of value.
C. Ideas can be "purchased" by convincing someone to change his or her behavior.
D. Marketing can be directed toward primary and secondary targets to increase knowledge and
change behavior.
E. Value can be created through changing behaviors.
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 1
Level: moderate
Topic: What is Marketing
65. (p. 8-10) The discussion of Zappos in the Power of Internet Marketing 1.1 demonstrates:
A. how increased promotion on the internet can be used to create value.
B. centralizing fulfillment operations is superior for a marketer because of the enhanced
inventory control.
C. how the third P - Place - is becoming irrelevant is the emerging world of internet commerce.
D. how consumers are not particularly concerned about delivery and availability as long as the
product is stylish.
E. how supply chain management is a critical component of marketing that creates value for
customers.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
66. (p. 11) Valerie's firm researched what employees are seeking, then communicated a brand
image for the firm and worked to ensure the employee experiences matched what was
advertised. The firm is using:
A. human resources advertising.
B. employee relations research
C. human potential imaging
D. employment marketing
E. human asset branding.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
67. (p. 11) Joseph is about to graduate near the top of his class and has been looking at some
forward-thinking firms. He had expected the job market to be tight, but found that some firms
were using employment marketing to attract the candidates they want and need. He noticed
these firms used all of the following approaches EXCEPT:
A. using marketing research to understand what future employees want from a position.
B. using advertising agencies to focus creatively on the targeted job seekers.
C. developing of an employee brand image.
D. focusing on the GPA and courses students took in marketing and human resources
management.
E. working to ensure the employment experiences match the candidates' expectations.
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 1
Level: hard
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
68. (p. 11) The "Got Milk" advertising campaign was designed to help market a(n):
A. individual.
B. firm.
C. industry.
D. organization.
E. all of the above.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
69. (p. 12-13) The evolution of marketing progressed along the continuum:
A. sales, marketing, value-based marketing, production
B. marketing, value-based marketing, production, sales
C. value-based marketing, production, sales, marketing
D. production, sales, marketing, value-based marketing
E. sales, value-based marketing, marketing, production
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
70. (p. 12) The idea that a good product will sell itself is associated with the _______________
era of marketing.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
71. (p. 12) Henry Ford's statement, "Customers can have any color they want so long as it's
black," typified the ____________ era of marketing.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: moderate
Topic: What is Marketing
72. (p. 12) Melanie works for a small computer software company. Her boss is constantly
improving their products but neglecting customers, billing, and promoting the company. Her
boss is probably stuck in the _____________ era of marketing.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: hard
Topic: What is Marketing
73. (p. 12) During the ______________ era, firms had excess capacity and used personal selling
and advertising to generate customers.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
74. (p. 12) The prevailing marketing strategy of the ______________ era was to find customers
for inventories that went unsold.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
75. (p. 12) Near the end of the model year, Move-Them-Out automobile dealership had an
unusually high inventory level. The manager increased her advertising spending and gave extra
incentives to its salespeople. Move-Them-Out operates as if it were in the __________ era.
A. production
B. sales
C. marketing-oriented
D. value-based
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: moderate
Topic: What is Marketing
76. (p. 13) Many U.S. companies first discovered marketing during the _________ era.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
77. (p. 13) During the marketing era:
A. a good product would sell itself.
B. the customer was king.
C. marketing was more important than production.
D. advertising and personal selling will make the sale.
E. firms focused on value.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
78. (p. 13) During the ____________ era manufacturers and retailers began to focus on what
consumers wanted and needed before they designed, made, or attempted to sell their products.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
79. (p. 13) During the ____________ era manufacturers and retailers recognized they needed to
give their customers greater value than their competitors did.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
80. (p. 13) Value is:
A. the lowest cost option.
B. represented by brand names.
C. the highest priced alternative.
D. everyday low prices.
E. what you get for what you give.
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 2
Level: easy
Topic: What is Marketing
81. (p. 13) Trey sells consumer electronics. He knows his customers weigh the costs versus the
benefits associated with the different options available. He decides which products to offer and
what prices to charge based on the way his customers think. Trey operates in the _________
marketing era.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: moderate
Topic: What is Marketing
82. (p. 13) Serena studies her customer profiles, market research data, complaints, and other
information attempting to better understand what her customers want. Serena operates in the
__________ era of marketing.
A. production
B. sales
C. marketing
D. value-based marketing
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
83. (p. 13) In delivering value, marketing firms attempt to find the most desirable balance
between:
A. the need for value and the perception of value.
B. explicit versus implicit value.
C. providing benefits to customers and keeping costs down.
D. the desire to satisfy customers and the need to keep customers from running the company.
E. the need for product improvement and the need for advertising.
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 2
Level: moderate
Topic: What is Marketing
84. (p. 13) Yolanda is the new restaurant manager in a major hotel. When considering changes in
the restaurant to improve benefits to customers, Yolanda will likely attempt to either provide
the same quality at a lower cost or:
A. improve products and services at the same cost.
B. increase prices to increase revenue.
C. offset higher hotel rates with lower restaurant prices.
D. reduce customer benefit expectations through reduced service.
E. any of the above.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: moderate
Topic: What is Marketing
85. (p. 13) Some customers will seek to get a lot of merchandise for a small amount of money. In
marketing, this is known as:
A. the marketing paradox.
B. the outer limits of pricing
C. customers seeking value.
D. profit pricing
E. value variation
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
86. (p. 13) Christie has just started with a travel agency, and she has been offering clients and
prospective clients a range of pre-packaged tours. She is concerned, because she is not making
the kinds of commissions she'd like. She has seen that her colleague Peter, who has been with
the agency for quite a while, is having a great deal of success by working with the clients, taking
their suggestions and building unique tour packages. Peter's approach is based on:
A. extraordinary good luck
B. premium pricing
C. his seniority at the firm
D. special incentives from tour operators
E. value co-creation
AACSB: outcome 3
Bloom's Taxonomy: Synthesis
Learning Objective: 2
Level: hard
Topic: What is Marketing
87. (p. 13) Adding Value 1.1: My M&Ms discusses a market approach similar to that used by
companies like Nike that allows customers to custom-design the products. Marketers offering
services also bring customers into the design process to create custom approaches. This is
known as:
A. vanity product development
B. value customization
C. premium design
D. value co-creation
E. extreme customer service
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
88. (p. 15) Value-based marketing depends on:
A. knowing what the customer perceives as the key benefits of a product or service.
B. balancing customer benefits with reasonable costs.
C. knowing what benefits customers would do without to keep prices down.
D. looking at quality from the customer's perspective.
E. All of the above.
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 2
Level: moderate
Topic: What is Marketing
89. (p. 15) Ann Marie has been working on pricing for the hotel where she works. She knows
business travelers stay at the hotel frequently because it has ready access to the airport, and
others stay there because it is convenient to the shopping and entertainment districts. She is
unsure whether she should raise rates for either business travelers or the leisure travelers. As
she works to find the best pricing mix, she'll have to look at the ways these travelers will make
in terms of price. In doing so, Ann Marie will be using:
A. value-based marketing.
B. convenience pricing.
C. destination planning.
D. All of the above.
E. None of the above.
AACSB: outcome 3
Bloom's Taxonomy: Synthesis
Learning Objective: 2
Level: hard
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
90. (p. 16) Janine has a new clothing design she would like to market. She knows creating and
delivering value to consumers is difficult and has seen designers' successful products have been
quickly replicated. For Janine, the major problem she faces in creating and delivering value is
most likely to be:
A. consumer perceptions change quickly.
B. competitors constantly enter markets.
C. global pressures continually reshape market opportunities.
D. marketers' understanding of consumers is complete.
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 2
Level: hard
Topic: What is Marketing
91. (p. 16) In 2006, the film Supersize Me provided a critical view of McDonalds Company and
their products. The company was caught off guard and had to quickly develop a response. In
terms of value-based marketing, McDonalds faced the potential problem of:
A. consumer perceptions change quickly.
B. competitors constantly enter markets.
C. global pressures continually reshape market opportunities.
D. marketers understanding of consumers is complete.
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 2
Level: hard
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
92. (p. 16) Fiona, the new manager of Common Ground Coffee House, is assessing vendor
performance, customer complaints, advertising effectiveness, and all aspects of her business.
Fiona recognizes value-based marketing:
A. is based primarily on consumer perceptions.
B. offers insights into competitor's actions.
C. should be at the core of every firm's functions.
D. depends on constantly changing global pressures.
E. forces consumers to constantly change their perceptions.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: moderate
Topic: What is Marketing
93. (p. 16) To become a more value driven organization, Pokrah University is holding coffee-hour
discussions with its students and surveying its graduates regarding students' educational needs
and desires. Pokrah University is becoming more value driven through:
A. sharing information across their organization.
B. balancing their customers' benefits and costs.
C. evaluating strategic competitive partnerships.
D. building relationships with customers.
E. none of the above.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
94. (p. 16) As owner of a retail franchise food store, Mary Gray coordinates her purchasing with
specials advertised nationally throughout the franchise system. One Monday she was surprised
to find customers asking for specials that she did not know about in advance. The franchise
company failed the value driven principle of:
A. sharing information across the organization.
B. balancing customers' benefits and costs.
C. evaluating strategic competitive partnerships.
D. building relationships with customers.
E. none of the above.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: hard
Topic: What is Marketing
95. (p. 16) To become a better value driven organization, the manager of BestBulk clothing store
directed her staff to share information about:
A. customers
B. competitors
C. complaints
D. inventories
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
96. (p. 17) In the past, manufacturer's representatives did not have up-to-minute data about the
products they were selling. Today, manufacturer's representatives are often provided Intranet
access to inventory data for the companies they represent. Intranet systems allow companies to
become more value driven through:
A. sharing information across the organization.
B. balancing customers' benefits and costs.
C. evaluating strategic competitive partnerships.
D. building relationships with government regulators of marketing institutions.
E. none of the above.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: moderate
Topic: What is Marketing
97. (p. 17) Value-driven marketers are constantly measuring the ___________ that customers
perceive against the cost of their offering.
A. information
B. benefits
C. relationships
D. perceptions
E. misconceptions
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
98. (p. 17) One of the benefits of value driven marketing is attention to customer needs and wants
will likely result in:
A. recessions
B. increased competition
C. long-term loyalties.
D. stronger relational dialogues among competing firms in the marketplace.
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
99. (p. 17) Even though they operate from out of the way airports and offer no food service, new
discount airlines like Ryanair and EasyJet have been successful. Consumers obviously
consider:
A. the code-sharing of information by these airlines as a strategic opportunity to influence
scheduling.
B. the long-term relationships established by these airlines as a critical benefit.
C. the value of higher-priced airlines exceeds the value provided by discounters.
D. the benefit of lower prices greater than the inconvenience of fewer services and easy access.
E. little when making airline choices.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: hard
Topic: What is Marketing
100. (p. 17) Even though they operate from out of the way airports and offer no food service, new
discount airlines like Ryanair and EasyJet have been successful. As would be expected,
successful value driven airline marketing strategies resulted in:
A. conventional airlines creating no frill/low cost competitors.
B. pressure for increased Federal Aviation Administration antitrust regulation.
C. increased demand for rail transportation.
D. full-price advertising by the conventional airlines.
E. increased gasoline prices.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: hard
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
101. (p. 17) To become value driven, firms should:
A. share information across the entire organization about customers and competitors.
B. balance relationships with customers beyond thinking about individual transactions.
C. balance benefits with costs to create value for customers.
D. All of the above.
E. None of the above
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
102. (p. 18) Travelers to other countries often are swamped with offers of transportation,
accommodations, and other goods and services when they arrive at train or airport terminals.
Experienced travelers have learned to be skeptical about these offers, recognizing most of these
marketers are interested in:
A. situational ethical relationships.
B. minimizing traveler's discomfort.
C. offering the best value for the lowest price.
D. transactions rather than relationships.
E. developing long-term business relationships.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: hard
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
103. (p. 18) A buyer's representative in a real estate purchase was asked by her customer "Is this a
fair offer?" She responded. "You are only trying to buy one house. Do you want to offer more
money than you have to?" The buyer's representative recognized that in most situations,
home-buyers are engaged in:
A. relationships.
B. subterfuge.
C. collective bargaining.
D. prestige purchases.
E. transactions.
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 2
Level: hard
Topic: What is Marketing
104. (p. 18) If you are engaged in a buying or selling situation where you do not expect to
business with the other party again, you are engaged in a:
A. transaction
B. value driven opportunity.
C. relationship.
D. simulation.
E. investigation.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
105. (p. 18) A relational orientation is based on the philosophy that buyers and sellers develop:
A. a complete understanding of each other's needs.
B. a long-term relationship.
C. a price-value comparison matrix.
D. supply chain synergy
E. a marketing value transaction focus.
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 2
Level: easy
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
106. (p. 18) Many firms with complex products have missionary salespeople who assist
customers with problems and implementation programs. These salespeople rarely sell products
but often become involved in and knowledgeable about customer's needs and wants. These
salespeople focus on a _______________ orientation with their customers.
A. transactional
B. external
C. relational
D. internal
E. divisional
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
107. (p. 18) After major hurricanes like Katrina, many ethical home repair and building supply
businesses charged the same price they were charging before the hurricane to needy customers,
even though there was a huge increase in demand for their products and services. These firms
recognize that:
A. they will make more off of government contracts than sales to customers.
B. needy people make the best transactional partners in the long run.
C. natural disasters bring out the best in people.
D. lifetime profitability of relationships matter more than profits from each transaction.
E. life must go on.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: hard
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
108. (p. 18) After hurricanes like Katrina, many small building contractors will flock to the
damaged area charging whatever customers will pay for temporary repairs to roofs and other
parts of damaged homes. These contractors are engaged in a _____________________
marketing orientation.
A. transactional
B. external
C. relational
D. internal
E. value driven
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: hard
Topic: What is Marketing
109. (p. 18) Melinda, a marketing executive, is trying to explain customer relationship
management (CRM) to her parents. She explains that CRM is a way of thinking that translates
into ___________________ to identify and build long-term relationships with her customers.
A. a set of strategies
B. programs
C. efforts
D. systems
E. all of the above
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 2
Level: easy
Topic: What is Marketing
110. (p. 18) The goal of customer relationship management is to:
A. manage every customer relationship differently.
B. manage every customer relationship to maximum potential profitability.
C. reduce inefficient relationships through customer care.
D. identify and build loyalty among a firm's customers.
E. generate relationships with all of a firm's customers.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
111. (p. 18) Firms and organizations use customer relationship management to:
A. to provide their best customers with the products they need.
B. systematically collect information about their customers.
C. to offer special promotions that appeal to their customers.
D. to target their best customers.
E. all of the above.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
112. (p. 18) Franco uses a database software system to remind him when his customers should be
ready to re-order his industrial cleaning products. With this reminder system, Franco contacts
his customers when they are most likely to be "in the buying mode." Franco's system is part of:
A. C2C marketing
B. customer relationship management
C. a transactional marketing orientation.
D. supply chain retail simplification system.
E. a value driven global positioning system.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: hard
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
113. (p. 18) Many catalog companies create special-run issues based on what customers have
purchased in the past. For example, customers who frequently order from the bedding items
receive a larger section of bedding items than customers who order kitchen items. This is an
example of:
A. C2C marketing
B. customer relationship management
C. a transactional marketing orientation.
D. supply chain retail simplification system.
E. B2B relationship management.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: moderate
Topic: What is Marketing
114. (p. 18) Marketing was once an afterthought to:
A. accounting.
B. economics.
C. production.
D. finance.
E. marketing was never an afterthought.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 3
Level: moderate
Topic: Value-based Marketing
115. (p. 18) Many inventors struggle with the question, "I made it; now how do I get rid of it?"
They struggle with the problem of considering marketing as:
A. an afterthought.
B. integral part of a business plan.
C. an accounting entry.
D. a profit center.
E. all of the above.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 3
Level: moderate
Topic: Value-based Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
116. (p. 18) Your roommate, a non-business major, sees you reading your marketing text. He or
she asks, "Why is marketing important?" You respond by saying all of the following EXCEPT:
A. Marketers advise production on how much product to make.
B. Marketers tell the logistics department when to ship products.
C. Marketers engage customers and developing long-term relationships.
D. Marketers identify opportunities to expand.
E. Marketers are the most important profit-center in any organization.
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
117. (p. 18) Georgia, the outside sales rep for a major building supply company, reads a report
stating building permits are down dramatically in her sales territory. She knew things were
slowing but now has data confirming her impression. Based on this information, one of the
important functions Georgia provides is:
A. identifying new expansion opportunities.
B. alerting production and purchasing divisions about how much product to produce or order.
C. assisting customers in product recall confirmations.
D. avoiding contact with competing firms in order to maximize C2C value driven marketing.
E. estimating profit per sale after allowances for depreciation and interest expenses.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
118. (p. 18) Jenny, the delivery and sales representative for a beer distributor is calling on a
retailer and sees the shelves are almost empty. An unexpected sporting event held nearby
resulted in a huge increase in sales. She calls her company's distribution manager and requests a
special delivery for her customer. Jenny is providing the important marketing function of:
A. advising production on how much product to make.
B. alerting the logistics department when to ship products.
C. engaging customers and developing long-term relationships.
D. identifying opportunities to expand.
E. synthesizing and interpreting sales, accounting, and customer-profile data.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
119. (p. 18) After the previous sales representative in his territory infuriated an important
customer, Benjamin visited the customer every couple months, never asking for business but
hoping to re-build trust through listening and expressing concern. Finally, after more than two
years, the customer gave Benjamin an order. Benjamin was providing the important marketing
function of:
A. advising production on how much product to make.
B. alerting the logistics department when to ship products.
C. engaging customers and developing long-term relationships.
D. identifying opportunities to expand.
E. synthesizing and interpreting sales, accounting, and customer-profile data.
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
120. (p. 18) Marketing provides the critical function of ________________________ when
companies expand globally.
A. production efficiency
B. understanding customers
C. personnel management
D. economic analysis
E. accounting accuracy
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 3
Level: easy
Topic: Value-based Marketing
121. (p. 18) When Efram Cosmetics Company considered expansion beyond their home territory,
Wisconsin, they began by reviewing demographic profiles of their customers and profiles of
regions they were considering. Efram Cosmetics was engaged in the important marketing
function of:
A. production efficiency
B. inventory analysis
C. personnel management
D. economic analysis
E. understanding customers
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 3
Level: moderate
Topic: Value-based Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
122. (p. 19) While on vacation in Ecuador Leah, marketing manager for an electronics company,
can't help herself and visits the electronics stores in the major malls in Quito. She sees most of
her company's products available but no personal digital assistants (PDAs) being marketed.
When she gets back to work, she mentions this observation to her international sales manager.
Leah was providing the important marketing function of:
A. advising production on how much product to make.
B. alerting the logistics department when to ship products.
C. engaging customers, developing long-term relationships.
D. identifying opportunities to expand.
E. synthesizing and interpreting sales, accounting, and customer-profile data.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
123. (p. 19) One of the most important challenges in marketing globally is to:
A. ensure that the product and service does not change from its domestic offerings
B. work carefully with protesters and advocacy groups to target competitors to ensure the c.
firm's name is not associated with these actions.
C. change to meet circumstances but maintain strategy and identity.
D. seek out other home-country firms to buy products and services from so as to ensure product
quality.
E. operate without publicity so as not to attract attention.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
124. (p. 19-20) Imagine a country where an anti-marketing dictator orders all marketing efforts to
be stopped. Producers are still allowed to produce, and consumers are allowed to consume but
no marketing is allowed. In such a situation:
A. there will be no advertising making it difficult to learn about producer's offerings.
B. producers will likely over or under estimate the needs of consumers.
C. consumers will have difficulty comparing the value of different producer's offerings.
D. producers will have difficulty determining where to ship their products and when.
E. all of the above.
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
125. (p. 20) At many universities there are separate departments of admissions, advisement,
development, and recruiting while pricing is determined in the administrative chambers. These
universities are missing the important marketing function of:
A. sincerity.
B. serenity.
C. seamlessness.
D. situation supply chain management.
E. simulation.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 3
Level: moderate
Topic: Value-based Marketing
126. (p. 20) Imagine you are now doing marketing at your university. You will likely be involved
in:
A. curriculum design.
B. promotion.
C. pricing.
D. scheduling/distribution
E. all of the above.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 3
Level: easy
Topic: Value-based Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
127. (p. 21) Greenbelt Construction has been a successful small home-building firm for years.
The owner pays subcontractors slightly more than the going rate, reducing the company's gross
margin. Greenbelt rarely changes subcontractors, has relatively few complaints from buyers,
and quick responses from subcontractors when they do have problems. Greenbelt is engaged
in:
A. traditional transactional orientation.
B. C2C value driven marketing.
C. effective supply chain management.
D. marketing mix maximization.
E. all of the above.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
128. (p. 21) Tanya has created a distinctive line of jams, fruit butters and preserves using local,
organically grown fruits. She sells these to specialty stores, whose upscale customers appreciate
the products and can afford the premium price needed to cover the costs. Tanya is concerned
about creating value across the entire supply chain which means:
A. she is concerned that her suppliers provide her with the high-quality ingredients she needs at
a price she can afford.
B. she is concerned that the specialty stores will be able to pay the premium price she needs to
charge, but at a price the retailers can afford with their customers.
C. she would like to ensure that suppliers and her customers create effective relationships to
support the effective marketing of the product to the ultimate customer.
D. she wants to ensure that here ingredients are organic and grown by local firms.
E. All of the above.
AACSB: outcome 3
Bloom's Taxonomy: Synthesis
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
129. (p. 22) Which of the following is not true about marketing?
A. The growth of the internet means that marketing will diminish in importance and impact as
customers interact directly with the firms.
B. Marketing provides customers with choices.
C. Marketing adds value to the products and services you use and buy.
D. Marketing makes like easier.
E. Marketing establishes a price that is affordable to the customers while covering the costs of
the features and benefits and providing a reasonable profit for the company.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 3
Level: moderate
Topic: Value-based Marketing
130. (p. 22) Beth is very creative, who has been able to put herself through college writing and
performing songs. Steven is a wizard with statistics, though he isn't sure what to do with his
talent. Peter is fanatic about project management and has taken a leadership role in every group
project in school. Which of these graduating seniors could consider a career in marketing?
A. Beth only.
B. Beth and Steven.
C. Beth and Peter.
D. Steven and Peter.
E. Beth, Steven and Peter.
AACSB: outcome 3
Bloom's Taxonomy: Synthesis
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
131. (p. 22) Marketing enriches society by:
A. solely focusing on maximizing firm profits.
B. encouraging employees to participant and invest in socially responsible activities and
charities.
C. recognizing that the firm can do very little by itself, and so it should stay focused on - and
develop - its own core competencies and let municipal, state and federal governments sort out
the complex, societal issues.
D. All of the above.
E. None of the above.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 3
Level: moderate
Topic: Value-based Marketing
132. (p. 22) UPS provides many services beyond package delivery including insurance, supply
chain management, e-commerce, and financing. In the process UPS is building:
A. value chain efficiency.
B. transactional support.
C. exchange efficiency.
D. strategic alliances.
E. customer idea management (CIM)
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
133. (p. 22) WalMart is often used as an example of a store that consumers love to hate. When a
new WalMart opens in an area it often results in the decline of small, local businesses. Local
groups often protest but, before long, find themselves shopping at WalMart because WalMart:
A. offers better quality products.
B. benefits consumers through low prices and large assortment.
C. benefits local communities through social welfare programs.
D. makes life easier for the remaining businesses.
E. promotes union solidarity.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 3
Level: moderate
Topic: Value-based Marketing
134. (p. 23) Ben & Jerry's, the Vermont-based ice cream producer, is well-known for its active
social responsibility. The company's mission makes explicit its approach by including which
three areas?
A. Financial, Ethical and Employment Missions
B. Economic, Philanthropic and Social Missions
C. Global, National and Local Missions
D. Product, Economic and Social Missions
E. Philosophical, Ethical and Political Mission
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 3
Level: moderate
Topic: Value-based Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
135. (p. 24) A friend of yours comments, "I'm starting my own business. I have a perfect product
that no one else can touch. I'd like to bring you into the company, but I have no use for
marketing. That's just for the mega-corporations." You're not sure you want to work for him,
but which of the following arguments would you NOT use in talking about marketing.
A. Marketing helps new ventures organize, operate and assess risk.
B. Marketers help address unfilled needs, regardless of the size of the firm.
C. Marketing focuses on the product but only as one element. Three other areas are Product,
Price and Place.
D. No one is better than marketers at communicating the value of the product to potential
customers.
E. Marketing will be essential in a year or two when the product takes off, and you'll talk again
later.
AACSB: outcome 3
Bloom's Taxonomy: Synthesis
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
136. (p. 24) Many entrepreneurs are successful through marketing efforts designed to:
A. mimic existing products on the market.
B. satisfy unfilled needs.
C. raise social consciousness.
D. gain monopoly power.
E. all of the above.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 3
Level: moderate
Topic: Value-based Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
Essay Questions
137. (p. 2-3) What has marketing contributed to the success of Google, Facebook and YouTube?
Students will likely find many technical points, the key to the answer is that they all provide
good value to customers. Answers should also include identifying and satisfying customer
needs.
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 1
Level: moderate
Topic: What is Marketing
138. (p. 4) Deonna has been asked to write a marketing plan for a new restaurant. What questions
will Deonna likely address in her marketing plan? Be specific, this is a restaurant.
Questions will vary but should include,
What items will be included on the menu? (products)
Where ingredients, supplies, equipment, and furnishings will be purchased? (supply chain)
How much will everything cost? (pricing)
What prices to charge? (pricing)
How the restaurant will be promoted? (promotion)
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: hard
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
139. (p. 4) Jean-Pierre is a wine distributor in the United States representing primarily European
vintners. He knows his potential market is all wine drinkers but only has limited resources to
market his products. Using the ideas presented in an Overview of Marketing, what should
Jean-Pierre do as a first step when developing his marketing plan?
Marketing is about creating value for his customer. With limited resources, Jean-Pierre should
attempt to identify the segments of the wine drinking market that are most likely to be interested
in his products. This would likely include people who travel more, are of European heritage,
and upper income groups.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: hard
Topic: What is Marketing
140. (p. 4) The text states, "Good marketing is not a random activity." Create an example to
respond to this statement.
Answers will vary but should include discussion of marketing as thoughtful planning
addressing questions of what, where, how, when, and for whom.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: hard
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
141. (p. 6) Your friend is writing a "how to" book and asks you for marketing advice. You start by
exploring the 4Ps. What questions will you ask? Be specific; your friend is creating a book.
Initial questions will be about the product: a book and include whether it will be a printed
versus e-book, bound or paperback, and type of binding?
Second questions will be about pricing: retail and wholesale prices, prices of competing books,
costs? Third questions will be about place: how to distribute the book, access to major online
booksellers, shipping costs? Fourth questions will be about promotion: how will the book be
promoted, access to publicity outlets, Web sites, etc?
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: hard
Topic: What is Marketing
142. (p. 8) The manager of a restaurant supply company determined prices by adding a standard
markup to her costs. Based on an Overview of Marketing, what might the manager be missing?
Pricing should be based on the potential buyer's belief about its value. Some of the items offered
by the restaurant supply company may have greater perceived value than other items.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
143. (p. 9) As the customer service manager for a heating and air conditioning firm, you are
constantly bombarded with complaints about service people not showing up, not having the
parts needed to make repairs, and unable to quickly get the materials needed to fix things. You
decide to bring in a marketing consultant to assist you with these problems. What area of
marketing specialization would you look for in a marketing consultant and what
recommendations would you expect to receive? Be specific; this is a heating and air
conditioning firm.
The problems span the organization from suppliers, to company employees, to customers. You
would probably look for a supply chain management specialist and look for recommendations
to coordinate parts inventories with vendors, train service personnel in inventory management,
and improve communication among the service personnel, customers, and scheduling office.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: hard
Topic: What is Marketing
144. (p. 9) As your first assignment in an advertising agency, your manager asks you to come up
with the language for three billboards promoting the university you attended. The manager
wants one ad for each of the three types of promotion objectives. Create an example of one
sentence billboard advertising language for each objective.
Answers will vary but should include:
Inform: Check out our new online course offerings today.
Persuade: XYZ University is your best ticket to a future.
Remind: Sign up for the fall semester now.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: hard
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
145. (p. 11) Some firms practice employment marketing to attract the "best and brightest"
employees. If you were to be recruited by a firm practicing employment marketing, what would
that firm do differently from a firm that did not? How would you react?
The firm will undertake research to determine the needs of employees, develop a value
proposition based on that research, communicate a brand image to potential employees then
ensure the promise is being fulfilled. Students may draw a number of contrasts. The student
reaction will provide insights into whether he or she has grasped the marketing concept and
approach.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: moderate
Topic: What is Marketing
146. (p. 12-13) Over the four marketing eras, how did the emphasis on the 4 Ps change? List the
four eras and describe which of the 4 Ps were emphasized during that era.
During the production-oriented era, obviously the focus was on the product.
During the sales era, the emphasis was on promotion, particularly selling and advertising.
During the marketing era, the emphasis was producing and providing (place) what customers
wanted. In the value-based era, all four Ps are equally important to delivering customer value.
AACSB: outcome 3
Bloom's Taxonomy: Synthesis
Learning Objective: 2
Level: hard
Topic: What is Marketing
147. (p. 13) How does value co-creation provide additional value to customers?
Value co-creation not only involved the customer, but it offers him or her the opportunity to
articulate the unmet needs the firm can address. Within the broader framework of value-based
marketing, the customer will likely increase the benefits from the product or service. The
impact on the firm is that the customer will likely pay a premium for this kind of relationship.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: hard
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
148. (p. 18) Imagine a country where an anti-marketing dictator orders all marketing efforts to be
stopped. Producers are still allowed to produce, and consumers are allowed to consume but no
marketing is allowed. From a marketing perspective, what would likely happen?
Answers will vary but creative students will envision numerous problems. In such a situation
there would be no advertising making it difficult to learn about producer's offerings. Producers
will likely over or under estimate the needs of consumers. Consumers will have difficulty
comparing the value of different producer's offerings.
A "black market" will likely evolve in spite of the dictator's directive.
AACSB: outcome 3
Bloom's Taxonomy: Synthesis
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
149. (p. 18) Imagine your university creates a position of vice president for marketing and
promotes your professor to the position. What activities will the new vice president of
marketing likely want to be involved in? Be specific; this is a university.
Answers will vary depending on the institution but should include the four Ps.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
150. (p. 18-20) Edward, a recently graduated marketing major, is being recruited by a mid-sized
manufacturing firm located in the Midwest. He was disturbed by comments made by the
recruiter that the firm has no intention of expanding its international marketing beyond the sales
that come in through the website. The recruiter said, "Marketing doesn't really have a role since
we don't advertise overseas." What are the things Edward feels the firm might be overlooking,
and would you advise him to take the job or not?
Marketing covers a wide range of issues and concerns focusing on the customer and developing
the idea of creating value throughout the organization. The marketing concerns both in terms of
strategy and the entire marketing mix will be just as relevant overseas as it is domestically. The
firm is not demonstrating a marketing focus, and Edward would face many difficulties trying to
implement what he learned at school.
AACSB: outcome 3
Bloom's Taxonomy: Synthesis
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
151. (p. 24) Ethical and Social Dilemma 1.1 discusses marketing fast food to children. What role
does marketing have in enriching society? Why should marketers need to balance the
viewpoints of different stakeholders?
Many firms recognize that a strong social orientation in their business is a sound strategy that is
in their interest and the interest of the customers. It helps to build trust and create relationships.
Since marketers have a great deal of contact with both these customers and the rest of the
organization, they are the ones who can most convincingly make the case for enriching society
to both groups of stakeholders.
AACSB: outcome: 2
AACSB: outcome: 3
Bloom's Taxonomy: Synthesis
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
152. (p. 24-25) How can marketing be effectively used by entrepreneurs?
Successful entrepreneurs work to fulfill unmet needs - a key responsibility in marketing.
Understanding customers and creating value are essential to both entrepreneurs and marketers.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
153. (p. 6-18) Your college roommate sees you reading the marketing textbook and says,
"Marketing is just advertising and selling." How do you respond?
Students' responses will vary but should contain discussion of anticipating and meeting the
needs of customers and in the process creating value. They might cite the definition of
marketing on page 7, "Marketing is an organizational function and a set of processes for
creating, communicating, and delivering value to customers and for managing customer
relationships in ways that benefit the organization and its stakeholders."
They could also state the core aspects of marketing also listed on page 7 or the quote on page
19, "In value-based marketing firms, the marketing department works seamlessly with other
functional areas of the company to design, promote, price, and distribute products."
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: hard
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
154. (p. 6-18) Imagine you graduate with a marketing degree and are hired into the marketing
department of a large consumer products company. You are initially given a two-week training
program, an overview of what the marketing department does. What will your training program
cover?
Students' responses will vary but should include a discussion of the core aspects of marketing
and aspects of the quote on page 19, "In value-based marketing firms, the marketing department
works seamlessly with other functional areas of the company to design, promote, price, and
distribute products."
AACSB: outcome 3
Bloom's Taxonomy: Analysis
Learning Objective: 1
Level: hard
Topic: What is Marketing
155. (p. 28) How could you use the ideas in Chapter One to market yourself to potential
employers after you graduate?
If an individual seeking a job sees the potential employer as a customer, he or she can begin to
adopt the idea of creating value, focusing the "marketing mix" that the individual brings and
bring a strategic approach to a job search. Research - of course - will help in separating fact and
reality from suppositions and assumptions.
AACSB: outcome 3
Bloom's Taxonomy: Synthesis
Learning Objective: 3
Level: hard
Topic: Value-based Marketing
156. (p. 6) What are the four Ps of marketing?
Product, price, place, and promotion.
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
157. (p. 6) What is the fundamental purpose of marketing?
To create value.
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 1
Level: easy
Topic: What is Marketing
158. (p. 8) "Everything has a price, though it doesn't always have to be monetary." What else is
included in a price?
Price can also include time and energy.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
159. (p. 8) How should marketers determine prices?
Based on the perceived value of potential customers.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
160. (p. 8) If you were hired as a supply chain manager, who would you interact with?
You would likely interact with suppliers, production staff, warehousing and logistics people,
transportation companies, and retailers.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 1
Level: hard
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
161. (p. 9) When the U.S. Army advertises, "Be All You Can Be, Join the Army," which
advertising objective are they pursuing primarily?
This is an example of an advertisement designed to persuade people to take action.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 1
Level: moderate
Topic: What is Marketing
162. (p. 12) During the period 1920-1950, what changes in the United States contributed to the
shift from production-orientation to sales orientation?
Improved production and distribution techniques increased output, while the Great Depression
and World War II, depressed demand, resulting in supply greater than demand and increased
emphasis on selling and advertising.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: hard
Topic: What is Marketing
163. (p. 13) When assessing customer value, what must a marketer always remember?
Value is in the eye of the beholder, meaning consumers have many different perceptions of
what is of value and what is not.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com
Download the full file instantly at http://testbankinstant.com
164. (p. 15) Basically, there are two ways to improve value. What are they?
Provide a better product or service at the same price or provide the same value at a lower price.
AACSB: outcome 3
Bloom's Taxonomy: Application
Learning Objective: 2
Level: moderate
Topic: What is Marketing
165. (p. 15) Why do marketers have to constantly re-evaluate their value propositions?
Consumer perceptions constantly change. Competitors constantly enter markets, and global
pressures constantly reshape market opportunities.
AACSB: outcome 3
Bloom's Taxonomy: Comprehension
Learning Objective: 2
Level: moderate
Topic: What is Marketing
166. (p. 18) Which type of orientation would you expect among ethically-challenged marketers; a
relational or transactional orientation?
A transactional orientation.
AACSB: outcome 2
AACSB: outcome 3
Bloom's Taxonomy: Knowledge
Learning Objective: 2
Level: moderate
Topic: What is Marketing
Download the full file instantly at http://testbankinstant.com